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Considering buying a 1997 28k miles automatic that’s in pristine condition. Only 1400 miles driven since 2015. Covered and in heated garage. Automatic with upgraded stainless exhaust.
asking $17500 with prices being all over the place is this a good buy?
From: In a parallel universe. Currently own 2014 Stingray Coupe.
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Based on the pic, the car looks in great shape. I haven't really kept up with the prices on the C5 since the pandemic caused them to go crazy on values. Hopefully someone who has a better grasp on current prices will chime in.
I think its fair. I sold my 99' coupe with 35k on the clock for 18k hand full of mods. In excellent condition. I should have held off for a bit higher price.
The prices are really dropping fast on C5s in my area. 1997 has a small advantage of being a small run year, so they are more rare if that's your thing. They have the disadvantage of having all the early C5 issues (my 1999 has plenty too). But if it's not original (wheels, exhaust) the rarity card isn't adding value here.
The 2001+ are better examples of the car to get since several of the factory issues were resolved and (some) parts are more readily available. 2001's are hitting 20k and not much more for the 02's, 03's etc.
Low mileage over long years often means deferred maintenance, mine needed most fluids, a harmonic balancer, tires, brakes and handful of other things the owner kicked down the road for a low milage car. Automatics are generally taking longer to sell too.
This one is probably a $15k car, if they get 17.5 good for them.
The market has been moving a lot over the past year or so - mostly down. But, it was artificially high in the COVID era, so I guess we are getting back to where we should be. I think their asking price is fair based on what I can see.
Prices have varied mostly by location. But the real factor is condition. The good cars are holding price the bad cars or marginal car with higher miles may dip.
The collector car market is still way high priced and not much is dropping if it is a good car. $20K does not buy much outside a Corvette.
Now when I say condition min amount of work is needed and they will be like new condition. Chips, wear and needs will drop the price.
Also modified cars will vary depending on the work that was done and how they were documented in the mods.
I have a C5 Supercharged here with a spoiler that looks good but it has been dropping in price for a year. It might have recently sold as I can't find it but it was down to $20LK. There may have been issues not shown in the photos too.
It all depends what it's worth to you. I've bought cars that are money pits, others that are flawless from the day I've purchased them. The Corvette looks clean from the photo you posted. Does it have a full service history? We all lust have super low mileage vehicles but basic maintenance is still a requirement.
As you are new to the site, be sure to read the Sticky Posts in the C5 General Discussion on the 1997-2000 cars. There are parts that are NLA for those model years, and you have to be prepared to deal with those issues should they go bad. If the car has issues like CEL, traction control, ABS, etc. as it is; they may not be cheap fixes. When you take it out for a test drive. Don't pussyfoot it. Romp on it. You need to know if it has issues from age and low mileage.
I bought a 2000 Torch Red coupe with 25k miles on it almost exactly a year ago. Prices change a little and can depend on location but to me $17.5k sounds right in the ballpark if not on the lower end for condition and mileage. Do a thorough inspection yourself using the info provided in the C5 stickies or take it to a tech you trust.
It’s been four days since you started this thread let us know if you bought it!
Good price
